Full Service Commercial and Merchant Banking

The culmination of Loita’s expertise and capabilities resides in its wholly owned banking subsidiaries. Through a determined investment strategy, Loita has established or acquired fully operational financial institutions from which it will grow its business in those countries. Its commitment to equity holdings demonstrates Loita’s conviction that its medium and long-term investments will bear the greatest fruit and provide added value to our partners and competitors.

Loita Bank, Malawi was established in October 1999 in Blantyre as Loita Investment Bank. Loita professionals had already been engaged in the Malawian market for a number of years, most notably in a technical management agreement in a local bank. Loita Bank, Malawi built on this experience, offering a full suite of investment banking products and corporate service to Malawi’s business sector. In its first year, Loita Bank, Malawi was able to build up an asset base of approximately US$ 12 million. Loita Bank, Malawi opened its first branch in Malawi in Kanengo, Lilongwe in November 2002 in order to ensure that financial products and services, which are already leaders in the market are available to the heart of the economy through this full branch operation. In December 2007, Loita sold majority stakeholding as well as control in Loita Bank, Malawi to EcoBank. Ecobank, a reputed and growing bank in Eastern Africa further consolidates the bank's position in Malawi's local market whilst injecting fresh capital as well as benefitting from the association of a larger financial institution.

In August 2000, Loita acquired 100% of the Industrial Credit Company (ICC) in Zambia, the leading leasing finance institution in the country. Based in Ndola on the country’s copperbelt, ICC will continue to excel in its core business of leasing finance, while also expanding its operations, particularly in Lusaka, to include investment banking products to the many corporates its serves.

What we do
Loita’s financial institution subsidiaries provide an array of services: